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Term Details - Gramm-Leach-Bliley Act (GLBA)

A federal law that requires financial institutions to disclose to consumers and customers their policies and practices for protecting the privacy of nonpublic personal information. “Nonpublic personal information” includes any personally identifiable information provided by a customer, resulting from transactions with the financial institution or obtained by a financial institution through providing products or services. Also known as the Financial Modernization Act of 1999.